Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: articles on VAT and GST in India :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: list of goods taxed at 4% :: due date for vat payment :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: cpt :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD
 
 
« News Headlines »
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits
 Want to save tax? Here are 6 best investment options for you
 Income Tax department activates e-filing facility for all ITRs
 All the income-tax return forms for the current assessment year are available online

DT target may be revised to Rs 3,92,000 cr
June, 12th 2008

Upbeat over 36 per cent growth in direct tax collections last fiscal, the Government on Monday said budget estimate under this head will be revised upwards substantially from around Rs 3,65,000 crore for 2008-09.

Talking to reporters, Finance Minister P Chidambaram indicated that budget estimate for direct tax collections may be increased to over Rs 3,92,000 crore for this fiscal.

The estimate will no longer be Rs 3,65,000 crore. The CBDT will meet over the next couple of days and increase the estimate upwards, Chidambaram said after inaugurating two-day annual conference of Chief Commissioners of Income Tax.

Even if you take a 25 per cent increase over last years collection of over Rs 3,14,468 crore, the budget estimates must be revised upward very sharply, he said. Twenty five per cent growth over the last years collection will push the estimate of direct tax collection to over Rs 3,92,000 crore.

When asked what is the rationale of being so upbeat on direct tax collection despite fear of slowdown in economic growth, Chidambaram reiterated that every estimate says that Economy will still grow at 8.5 per cent this fiscal.

Referring to non-compliance of TDS rules by the some ministries, he said, We are not happy with TDS deductions in the Defence Ministry and Railways Ministry. We are taking steps to sensitise the authorised deductors in the government sector to comply with law and improve the TDS. Steps are being taken to work with the Ministries of Defence and Railways. So, we are confident there would be significant improvement in 2008-09, he said.

On prosecution of tax evaders, he said directions have been issued that if during a search or survey a person is found that he has stopped filing returns for the past three years or has never filed a return, invariably such a case will be taken for prosecution.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions